Why a Used Car is Perfect for 1st Time Car Buyers
As a first-time car buyer near West Palm Beach, Greenacres, and Boca Raton, you’re at a little bit of a disadvantage compared to other car buyers. You’re new to the car buying game, and there’s a lot you’ll want to learn before heading to the dealership.
One of the most common questions we get from first-time buyers is whether it’s a smarter investment to buy a new car or a used car. And while everyone seems to have an opinion about the matter, at the end of the day, yours is the only one that matters. So here are a few things we think a first-time car buyer should consider before shopping.
Why a Used Car is Perfect for a First-Time Car Buyer
Whether you’re a first-time car buyer because you’re a new driver or because you’ve simply never had the funding (or desire) to own a vehicle, choosing to purchase a used car is a wise decision. Not only is it a sound investment, but it’s also the more affordable option.
Depreciation is a Huge Factor
Buying a new car is exciting, but it comes with the knowledge that if you were to turn around tomorrow and need to sell that car for some reason, you would lose a lot of money. The vehicle would depreciate immediately when leaving the sales lot, simply because it’s not “new” anymore and you might lose out.
On the other hand, with a used vehicle, that’s not the case. You could decide on Day 2 with a used vehicle that you need to sell it, and you should be able to get a price comparable to what you paid for it.
Used Cars are Cheaper to Insure
Another huge factor to consider is the cost of auto insurance. One of the biggest benefits of buying a used car is that the cost to insure a used vehicle is usually cheaper than with a new car. The reason for this has to do with the previous section—depreciation—as well as risk.
When you buy a new car, there’s a high risk that a first-time car owner will total the car. For the insurance company, the overall risk factor is larger with a new car because the cost to replace the vehicle is higher.
With a used car, the insurance company will replace your vehicle if it’s totaled with a comparable car, which will be cheaper for them. Their savings is your savings and is reflected in your monthly bill.
Still Want a Manufacturer Warranty? Consider Certified Pre-Owned
If you’re thinking that you don’t want a used car near Boca Raton, Greenacres, and Palm Beach because it doesn’t have that warranty, you could consider a Certified Pre-Owned Honda vehicle. These vehicles come with benefits such as a 7-year/100,000-mile powertrain limited warranty.
They go through a 182-point inspection prior to being certified; any worn parts are replaced or reconditioned to Honda standards; and select models qualify for special financing through Honda Financial Services. You’ll also get a free vehicle history report from the dealership.
Ready to start shopping? Check out the huge inventory at Braman Honda of Palm Beach now to start your car buying experience today.